Product Ruling

PR 2004/34W

Income tax: Barkworth Olives Project No 8

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FOI status:

Notice of Withdrawal

Product Ruling PR 2004/34 is withdrawn with effect from today.

1. The Product Ruling relates to a proposed Project under which a Grower would acquire an interest in an established olive Grovelot, or Grovelots, on which they would cultivate olive trees and harvest the olives for the production and sale of olive oil.

2. The Product Ruling only applies to a Grower who is accepted to participate in the Project on or before 15 June 2004. Barkworth Olives Management Limited ('BOML'), the Manager of the Project, has advised the Project will not be marketed before 15 June 2004. Therefore the Product Ruling has no application to any Growers and is withdrawn.

Commissioner of Taxation
9 June 2004

References

ATO references:
NO 2003/11684

Related Rulings/Determinations:

TR 92/1
TR 92/20
TD 93/34
TR 97/11
TR 97/16
TR 98/22
TR 2000/8
PR 1999/95

Other Rulings/Determinations:
TR 2001/14

Subject References:
carrying on a business
commencement of business
fee expenses
interest expenses
management fee expenses
management fees
non commercial losses
producing assessable income
product rulings
public rulings
schemes and shams
taxation administration
tax avoidance

Legislative References:
TAA 1953 Part IVAAA
ITAA 1936 Div 3 Subdiv H Pt III
ITAA 1936 82KL
ITAA 1936 82KZL
ITAA 1936 82KZME
ITAA 1936 82KZMF
ITAA 1936 Pt IVA
ITAA 1936 177A
ITAA 1936 177C
ITAA 1936 177D
ITAA 1936 177D(b)
ITAA 1997 6-5
ITAA 1997 8-1
ITAA 1997 17-5
ITAA 1997 Div 27
ITAA 1997 Div 35
ITAA 1997 35-10
ITAA 1997 35-10(2)
ITAA 1997 35-10(3)
ITAA 1997 35-10(4)
ITAA 1997 35-30
ITAA 1997 35-35
ITAA 1997 35-40
ITAA 1997 35-45
ITAA 1997 35-55
ITAA 1997 35-55(1)
ITAA 1997 35-55(1)(a)
ITAA 1997 35-55(1)(b)
ITAA 1997 Div 40
ITAA 1997 40-515(1)(b)
ITAA 1997 40-520(2)
ITAA 1997 40-525(2)
ITAA 1997 40-530 item 2
ITAA 1997 40-545
ITAA 1997 Div 328
ITAA 1997 Subdiv 328-F
ITAA 1997 Subdiv 328-G
ITAA 1997 328-105
ITAA 1997 328-105(1)(a)
ITAA 1997 328-105(1)(b)
Copyright Act 1968
Corporations Act 2001
New South Wales Real Property Act 1900

Case References:
FCT v. Lau
(1984) 6 FCR 202
84 ATC 4929
(1984) 16 ATR 55